Despite continued focus on a slowdown in China’s luxury sector, Prada SpA has recently reported that as far as it is concerned, the present is quite positive. At the close of the first half of 2012, Prada saw a 60% increase in net profit, and, as Jing Daily reports, most of that increase came from Asian consumers. Many luxury brands have become cautious of depending on Chinese shoppers for profits amidst reports of a slowdown in China luxury sales. However, according to the China Post, Prada’s Chief Executive Officer Patrizio Bertelli says that there is no need for hysteria regarding the slowdown in China and urges brands to keep calm about the future of the luxury market.

CNBC compares the sales in China from Burberry, which has recently reported slower growth in China than expected, and Prada, which remains cautiously optimistic. Leather goods appear to be more resilient in the economic climate than apparel, which is the basis of much of Burberry’s sales. Meanwhile, Prada relies on its leather products, which most likely contributes to its recent success. Hermès International SCA has also seen an increase in profit due to sales of its silk scarves, Birkin bags, and other items, according to the Wall Street Journal. WSJ also reports Bertelli’s assertion that Chinese consumers need to be stimulated to continue the spending that many brands have hope for and expected. Bloomberg clarifies that Prada does, in fact, give its shoppers something to be excited about, as the company updates its products each year to put new items in front of the consumer.

It appears that with Prada’s recent notable success, Bertelli feels confident in seeing the future optimistically, albeit with a degree of caution. The market will certainly be kept on close watch, but the achievements of those brands posting increased profits are as significant as those reporting less success in recent months.

The most populated country in the world has been, until recently, perceived to be a hotbed of conspicuous consumption. Luxury brands rushed in to fill the void and make a bundle. Vuitton, Prada, Burberry — you name it, you could buy it in China. And consumers were happy to show off their ability to buy. Read the full article on Brand Channel.

Chief Executive Patrizio Bertelli said Monday that he remains confident about the Italian fashion house’s growth prospects despite fears of a slowdown in demand for luxury goods, as the company posted a 59% rise in first-half net profit. Read full article at WSJ.

Italian fashion house Prada SpA (1913.HK) dismissed talk of a sharp slowdown in spending on luxury goods, posting a 59.5 percent jump in net profit and saying its sales in the past two months were on track with expectations. Read full article at Reuters.

If there were one thing more delicious than owning a Prada handbag, it was owning Prada stock. In the last year, the Hong Kong-listed shares of the Italian luxury goods group have climbed about 70 per cent. For that, investors could thank near explosive growth in China and the rest of the Asia-Pacific region. Read full article at Globe and Mail.

But analysts are warning of a sharp pullback in its earnings growth in the second half, as Prada, which has managed to buck the sector’s decline because of its low penetration in key luxury markets, succumbs to a global demand slowdown. Read full article at CNBC